Quotes About Economics

Robert L. Heilbroner

It is that wealth is inextricably associated with inequality. This is an insight that we get from a most unlikely source, the first of the great philosophers of capitalism, who wrote that "wherever there is great property, there is great inequality. . . . The affluence of the rich supposes the indigence of the many." It is Adam Smith speaking, not Karl Marx.11

He loved his job, which allowed time to do it without comparing his performance to others'. He loved the economics of death: hastening a person's passage into the afterlife not only provided him with a good living: it gave work to coroners, beat cops, detectives, crime scene technicians, the people who made fingerprint powder and luminal and other sundry chemicals and devices - not to mention firearm, ammunition, coffin, and tissue manufacturers - obituary writers, crime reporters, novelists.

Si se reduce el número de espectadores, también se debe reducir el presupuesto. Ésa es la ley.

In fact, if your investment is not over $5 million, it's hard to get anyone in the government to become interested in your property.

understanding both our history and our future. After The Worldly Philosophers, I recommend reading The Creature from Jekyll Island by G. Edward Griffin, Paul Zane Pilzer's Unlimited Wealth, James Dale Davidson's The Sovereign Individual, Robert Preacher's The Crest of the Wave, and Harry Dent's The Great Depression Ahead. While

The last capitalist we hang shall be the one who sold us the rope." ? Karl Marx

You must be aware that the reward for labour, and quantity of labour, are quite disparate things." ? Karl Marx

Although many sociologists still echo Max Weber's (1864–1920) claim that capitalism originated in the Protestant Reformation, capitalism actually originated in the "depths" of the "Dark Ages.

As one of China's leading economists put it, "in the past twenty years, we have realized that the heart of your culture is your religion: Christianity. That is why the West is so powerful. The Christian moral foundation of social and cultural life was what made possible the emergence of capitalism and then the successful transition to democratic politics. We don't have any doubt about this."42 Neither do I.

As Keynes observed, there cannot be "liquidity" for the community as a whole.6

A chief attraction of the real bills theory was that it took decisions regarding the money supply out of human hands. John Carlisle, Treasury secretary under Cleveland, maintained that issuing notes "is not a proper function of the Treasury Department, or of any other department of the Government." The task was just too difficult. Rather, Carlisle said, currency should be "regulated entirely by the business interests of the people and by the laws of trade.

As Keynes observed, there cannot be "liquidity" for the community as a whole.6 The mistake is in thinking that markets have a duty to stay liquid or that buyers will always be present to accommodate sellers.

Markets can remain irrational longer than you can remain solvent. —JOHN MAYNARD KEYNES

The fact that wealth can be distributed only if it is first created seemed to have escaped his notice.

Why do the defenders of the market not raise their voices against the practice of externalizing costs in that way? After

To put the point another way: the Marxist theory of history, which explains all historical development as the product of changes in the economic infrastructure, is false.

Smith did not regard economic freedom as the sum of politics, nor did he believe that self-interest is the only, or even the most important, motive governing our economic behaviour. A market can deliver a rational allocation of goods and services only where there is trust between its participants, and trust exists only where people take responsibility for their actions and make themselves accountable to those with whom they deal. In other words, economic order depends on moral order.

This thirty-five-page essay had been written in two or three weeks by Hamilton, as he entered the fray with all the grandiloquence and learning at his disposal. He showed himself proficient at elegant insults, an essential literary talent at the time, and possessing a precocious knowledge of history, philosophy, politics, economics, and law. In retrospect, it was clear that he had found his calling as a fearless, swashbuckling intellectual warrior who excelled in bare-knuckled controversy.

To those who feared oppressive taxes, Hamilton made an argument that anticipated "supply-side economics" of the late twentieth century, saying that officials "can have no temptation to abuse this power, because the motive of revenue will check its own extremes. Experience has shown that moderate duties are more productive than high ones."10

This relentless price war forced Tidewater to operate at half capacity.

about a billion dollars in tax-free income per annum in today's money.

Standard Oil of New York also made large loans to banks, brokerage houses, railroads, and steel companies.

Had she stayed in business, she would have been bankrupt within a few years.